156,157 Shares in Montrose Environmental Group, Inc. $ONT Acquired by OP Asset Management Ltd

OP Asset Management Ltd bought a new stake in shares of Montrose Environmental Group, Inc. (NYSE:ONT) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 156,157 shares of the company’s stock, valued at approximately $3,418,000. OP Asset Management Ltd owned about 0.43% of Montrose Environmental Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Montrose Environmental Group by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,876 shares of the company’s stock valued at $269,000 after buying an additional 780 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Montrose Environmental Group by 39.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 326,969 shares of the company’s stock worth $4,663,000 after purchasing an additional 92,671 shares during the period. Rhumbline Advisers lifted its stake in Montrose Environmental Group by 27.9% in the second quarter. Rhumbline Advisers now owns 57,667 shares of the company’s stock worth $1,262,000 after purchasing an additional 12,566 shares during the last quarter. Invesco Ltd. boosted its position in Montrose Environmental Group by 13.1% during the second quarter. Invesco Ltd. now owns 152,085 shares of the company’s stock valued at $3,329,000 after buying an additional 17,601 shares during the period. Finally, Marshall Wace LLP boosted its position in Montrose Environmental Group by 245.0% during the second quarter. Marshall Wace LLP now owns 383,661 shares of the company’s stock valued at $8,398,000 after buying an additional 272,444 shares during the period. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Stock Performance

NYSE:ONT opened at $19.78 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.76. The firm’s fifty day simple moving average is $17.73 and its 200 day simple moving average is $21.91. The stock has a market cap of $714.85 million, a P/E ratio of 395.68, a price-to-earnings-growth ratio of 1.49 and a beta of 1.72. Montrose Environmental Group, Inc. has a twelve month low of $14.13 and a twelve month high of $32.00.

Insider Transactions at Montrose Environmental Group

In related news, CFO Allan Dicks purchased 6,535 shares of Montrose Environmental Group stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $15.36 per share, for a total transaction of $100,377.60. Following the completion of the transaction, the chief financial officer directly owned 218,178 shares of the company’s stock, valued at $3,351,214.08. This represents a 3.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter Graham acquired 25,140 shares of the stock in a transaction on Friday, June 5th. The stock was bought at an average price of $17.19 per share, with a total value of $432,156.60. Following the completion of the acquisition, the director directly owned 256,689 shares of the company’s stock, valued at $4,412,483.91. This trade represents a 10.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 36,535 shares of company stock worth $610,003 in the last ninety days. Insiders own 10.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ONT shares. Zacks Research upgraded Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Barclays reduced their price target on Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, May 18th. Needham & Company LLC decreased their price target on Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Montrose Environmental Group in a research report on Friday, May 29th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $26.67.

Montrose Environmental Group Company Profile

Montrose Environmental Group (NYSE: MEG) is a global provider of environmental technical and monitoring services, delivering solutions for site assessment, remediation, compliance and long-term environmental stewardship. The company serves a broad range of industries, including energy, manufacturing, chemicals, mining and government agencies, supporting clients with risk management strategies, regulatory permitting and environmental permitting.

Montrose’s core offerings encompass environmental consulting, engineering design, field sampling and laboratory analysis, plus innovative digital monitoring platforms.